Shri Hare-Krishna Sponge Iron Ltd Lists at 9.83% Premium
By Shishta Dutta | Updated at: Nov 19, 2025 05:40 PM IST
Mumbai, 1 July 2025: Shri Hare-Krishna Sponge Iron Limited made a strong debut on the NSE Emerge platform today, listing at ₹64.80-marking a 9.83% premium over its IPO price of ₹59. This notable market entry reflects strong investor interest in the company’s growth plans and sector outlook.
Shares List at Premium, Reflecting Strong Initial Demand
At the opening bell, the stock was listed at ₹64.80, capturing investor optimism with an immediate 9.83% gain. However, early trade saw a swift correction, with the stock dipping to ₹61.60 within the first hour. By 10:05 AM, the stock was trading at ₹61.60, down 4.94% from the listing price but still 4.41% above its issue price.
Listing Day Performance Snapshot (as of 10:05 AM)
| Metric | Data |
|---|---|
| Issue Price | ₹59.00 |
| Listing Price | ₹64.80 |
| Last Traded Price | ₹61.60 |
| High / Low (Intraday) | ₹64.80 / ₹61.60 |
| Traded Volume | 14.16 lakh shares |
| Traded Value | ₹9.13 crore |
| VWAP | ₹64.48 |
| Market Lot | 2,000 shares |
| Face Value | ₹10 |
| Listing Date | July 1, 2025 |
| Status | Listed & Active |
Company Touches ₹118.22 Crore Market Cap on Listing Day
Based on its listing price of ₹64.80, Shri Hare-Krishna Sponge Iron achieved a market capitalisation of approximately ₹118.22 crore. This positions the company strongly among newly listed SMEs, giving it visibility and valuation strength on debut.
Early Sell Pressure Emerges; Buy Side Remains Muted
A review of the order book at the time of reporting indicates visible sell-side activity, but no active buy orders. A total of 3.7 lakh shares were up for sale, with the largest sell order placed at ₹61.60.
| Sell Orders (Ask Price) | Quantity |
|---|---|
| ₹61.60 | 1,28,000 |
| ₹62.00 | 4,000 |
| ₹63.80 | 2,000 |
| ₹64.00 | 2,000 |
| ₹64.25 | 8,000 |
| Total Sell Qty | 3,70,000 |
This imbalance suggests that early investors may be booking profits, while new buyers are yet to enter at current price levels.
IPO Funds Target Power Plant and Working Capital Expansion
Shri Hare-Krishna Sponge Iron IPO raised ₹28.91 crore through the issuance of 50.70 lakh equity shares. The company has earmarked the proceeds for setting up a 5 MW captive power plant and meeting working capital needs as part of its strategic expansion in steel product manufacturing.
With a premium listing, a clear expansion plan, and early market participation, Shri Hare-Krishna Sponge Iron’s entry to the public markets has set a firm foundation, though short-term volatility remains a factor as the stock establishes its price discovery in the coming sessions.
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